Silverfin false 25/03/2023 26/03/2022 25/03/2023 Ian Buchan 11/04/1994 Mark Buchan 20/08/2012 Stuart Buchan 20/08/2012 Wilma Lynne Buchan 09/12/2014 19 March 2024 The principal activity of the Company during the financial year was that of pelagic fishing carried out through the company's interest in a fishing vessel partnership. SC150141 2023-03-25 SC150141 bus:Director1 2023-03-25 SC150141 bus:Director2 2023-03-25 SC150141 bus:Director3 2023-03-25 SC150141 bus:Director4 2023-03-25 SC150141 2022-03-25 SC150141 core:CurrentFinancialInstruments 2023-03-25 SC150141 core:CurrentFinancialInstruments 2022-03-25 SC150141 core:ShareCapital 2023-03-25 SC150141 core:ShareCapital 2022-03-25 SC150141 core:CapitalRedemptionReserve 2023-03-25 SC150141 core:CapitalRedemptionReserve 2022-03-25 SC150141 core:RetainedEarningsAccumulatedLosses 2023-03-25 SC150141 core:RetainedEarningsAccumulatedLosses 2022-03-25 SC150141 core:CostValuation 2022-03-25 SC150141 core:FurtherSpecificIncreaseDecreaseInInvestments2ComponentTotalChangeInInvestments 2023-03-25 SC150141 core:CostValuation 2023-03-25 SC150141 bus:OrdinaryShareClass1 2023-03-25 SC150141 bus:OrdinaryShareClass2 2023-03-25 SC150141 2022-03-26 2023-03-25 SC150141 bus:FullAccounts 2022-03-26 2023-03-25 SC150141 bus:SmallEntities 2022-03-26 2023-03-25 SC150141 bus:AuditExemptWithAccountantsReport 2022-03-26 2023-03-25 SC150141 bus:PrivateLimitedCompanyLtd 2022-03-26 2023-03-25 SC150141 bus:Director1 2022-03-26 2023-03-25 SC150141 bus:Director2 2022-03-26 2023-03-25 SC150141 bus:Director3 2022-03-26 2023-03-25 SC150141 bus:Director4 2022-03-26 2023-03-25 SC150141 2021-03-26 2022-03-25 SC150141 bus:OrdinaryShareClass1 2022-03-26 2023-03-25 SC150141 bus:OrdinaryShareClass1 2021-03-26 2022-03-25 SC150141 bus:OrdinaryShareClass2 2022-03-26 2023-03-25 SC150141 bus:OrdinaryShareClass2 2021-03-26 2022-03-25 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC150141 (Scotland)

M.V. QUANTUS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 25 MARCH 2023
PAGES FOR FILING WITH THE REGISTRAR

M.V. QUANTUS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 25 MARCH 2023

Contents

M.V. QUANTUS LIMITED

BALANCE SHEET

AS AT 25 MARCH 2023
M.V. QUANTUS LIMITED

BALANCE SHEET (continued)

AS AT 25 MARCH 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 24,417,445 19,999,687
24,417,445 19,999,687
Current assets
Cash at bank and in hand 311,515 310,755
311,515 310,755
Creditors: amounts falling due within one year 4 ( 568,905) ( 994,429)
Net current liabilities (257,390) (683,674)
Total assets less current liabilities 24,160,055 19,316,013
Provision for liabilities ( 1,786,544) ( 1,765,984)
Net assets 22,373,511 17,550,029
Capital and reserves
Called-up share capital 5 1,375 1,375
Capital redemption reserve 375 375
Profit and loss account 22,371,761 17,548,279
Total shareholders' funds 22,373,511 17,550,029

For the financial year ending 25 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of M.V. Quantus Limited (registered number: SC150141) were approved and authorised for issue by the Board of Directors on 19 March 2024. They were signed on its behalf by:

Ian Buchan
Director
M.V. QUANTUS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 25 MARCH 2023
M.V. QUANTUS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 25 MARCH 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

M.V. Quantus Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 5 Albyn Terrace, Aberdeen, AB10 1YP, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

The company has a 48/64 interest in a partnership which owns a fishing vessel.

The company recognises it's share of the partnership's profit or loss to 31 March.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include bank balances, are measured at transaction price.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 26 March 2022 19,999,687 19,999,687
Share of partnership profits 6,540,631 6,540,631
Drawings (2,122,873) (2,122,873)
At 25 March 2023 24,417,445 24,417,445
Carrying value at 25 March 2023 24,417,445 24,417,445
Carrying value at 25 March 2022 19,999,687 19,999,687

4. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 2,400 0
Corporation tax 523,244 848,785
Other creditors 43,261 145,644
568,905 994,429

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
770 Ordinary shares of £ 1.00 each 770 770
605 A ordinary shares of £ 1.00 each 605 605
1,375 1,375